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Search Results 0 to 49 of about 104 (some duplicates have been removed)
MSNBC
Nov 26, 2012 5:00pm PST
in entitlement reform. medicare, medicaid, these are chief drivers of the deficit. there's other spending we have to cut. >> hold on a second. i think that we all know what the chief drivers of our deficit are and have been. our projected deficit has driven by the wars and the bush tax cuts. entitlement programs don't even compete with these costs. plouffe went on to pin the problem largely on republicans who are not flexible, but he also said this. >> where the big bottleneck is republicans in congress around revenue and how much and where does it come from, democrats are going to have to step up and do some tough things. and the notion that somehow that these deficits and our debt are not a threat to our national security on our economic future is something i cannot disagree with more strongly. there are some commentators on the left that suggest that. that we shouldn't deal with that at all. >> voices on the left are not saying the deficit is not a problem for our future. progressives understand we need to deal with our debt, but progressives don't want to see the burden of deficit reduction p
MSNBC
Nov 26, 2012 8:00pm PST
to solve the deficit standoff, people should listen to this guy. plouffe said this is going to get hairy? >> we want to engage in comprehensive tax reform. we also need to engage in entitlement reform. you know? medicare, medicaid carefully, these are chief drivers of our deficit. we made a lot of progress with obama care and there's other spending we have to cut. >> hold on a second. i think we all know what the chief drivers of our deficit are and have been. our projected deficit over the next seven years is driven mostly by the wars in iraq and afghanistan and the bush tax cuts. entitlement programs don't even compete with these costs. plouffe went on to pin the problem largely on republicans who are not flexible on higher tax rates, but he also said this. >> and so where i think the big bottleneck right now is republicans in congress on revenue and how much and where does it come from. democrats are also going to have to step up here and do some tough things. and you know, the notion that somehow that these deficits and our debt are not a threat to our national security and our econo
FOX News
Nov 28, 2012 3:00pm PST
tonight in deficit reduction efforts. it's a path that is sure to lead to many obstacles from the other side. chief white house correspondent ed henry has the new developments in a time sensitive story. >> in a dramatic move today, president obama seemed to be trying to split the budget talks to two pieces. suggesting he and lawmakers come up with spending cuts next year after they avoid the fiscal cliff, by extending middle class tax cuts and raising taxes on the rich. >> it would give us more time than next year to work together. on a comprehensive plan to bring down the deficit, streamline our tax system. do in a balanced way. >> the president apparent shift away from spending and tax altogether now in a big deal could increase the chances of a market rattling fall off the cliff. since the republicans want spending cuts included. >> republicans are willing to put revenue on the table. but it's time for the president and democrats to get serious about the spending problem that our country has. >> the president's move came one day after two other big developments, suggesting democrats
CSPAN
Nov 28, 2012 7:00am EST
to the deficit, they say, and it needs to be part of the deficit. the opposing view of durban says social security is not in a crisis. back to our question for our viewers. how would you fix your school system? david in kansas, an educator, republican line. caller: i just want to say i am an educator. i'm not republican. i would make education a completely free market good. i would get rid of compulsory school attendance. --would get rid of taxation a i think you need a wall that separates the government and education, just like we have a separation between government and religion. host: ok. june in wisconsin, independent. caller: hi. you know, the baby boomers got the last excellent, well-rounded public-school education. it was based on the basics -- proper english, writing. for whatever reason, somebody decided -- and i saw a teacher wrote an article on why we have to write all these rules in english, such as "i before e" in english. i thought, are you kidding me? for some reason somebody said, "whatever you think it is, and johnny." it's ridiculous. there's nothing wrong with people un
Current
Nov 27, 2012 5:00pm PST
? >> well, first of all, i do believe the middle class has a stake and a good, solid balanced, deficit reduction plan. the plan should be what the president campaigned on, namely balance. that means we've got to have a substantial contribution from revenues. the revenues have to come from the folks who have been making good money during the recession. that's folks over $250,000 or some number close to. that the pentagon's got to make a contribution and if there is anything on healthcare, it's gotta be about reforming it, bringing the costs down, not cutting benefits. >> eliot: let's drill down a couple of pieces of this. what do you think the underlying ratio should be between cost cutting and revenue generation. last summer it was 10 to 1 in terms of cutting costs to revenue. thankfully the deal didn't get done. should it be one-to-one? where would you like to see this happen? >> you know, i actually don't know that number because i think the question is i think we need about a trillion and a half from revenues and the
CSPAN
Nov 27, 2012 10:00am EST
will be speaking about the so-called fiscal cliff and that is a reduction -- and deficit reduction. we will have that live here on c-span at 11:30 a.m. eastern. over at the white house today, president obama is meeting with small business owners. at 12:30, jay carney will hold a press briefing and take questions from reporters. this afternoon, the president and vice president will meet with the mexican president who takes office december 1. the press briefing today at 12:30. on capitol hill, the house of representatives returns today at 2:00 p.m. eastern on their agenda this afternoon five bills including a measure requiring the department of a homeland security to report on security. later this week, a student visa program. also this week, the democratic leadership elections. that will be coming up later this week. live coverage of the house at 2:00 p.m. eastern. a number of senators have been meeting with u.n. ambassador susan rice in the wake of her comments following the attack on the benghazi consulate. just wrapping up is a brief news conference and statement with senators. here is a look.
PBS
Nov 28, 2012 12:00am PST
. the president moved to draw on his reelection victory for new clout with congress. the goal: a sweeping deficit agreement to avert $650 billion in spending cuts and tax increases at the start of 2013. from the white house came word that president obama will try to build public pressure on congress to raise taxes on the wealthy and prevent tax hikes for everyone else. white house spokesman jay carney. >> well, the president believes very strongly that the american people matter in this debate. because this debate is about them. the question of whether or not taxes go up on 98% of american tax payers is a very important to ordinary americans. it is not just a matter for discussion between the president and the senate minority leader. or other congressional leaders. >> brown: to that end the president met privately today with small business owners. on friday he'll travel to the philadelphia area to speak further on the issue. not to be outdone, house republicans said they'll meet with small business owners and workers in their districts arguing against the president's plan. in the senate republica
MSNBC
Nov 28, 2012 9:00am PST
the deadlines we're facing on taxes and deficits. these deadlines are going to be coming up very soon in the coming weeks. but today's important because i want to make sure everybody understands this debate is not just about numbers. it's a set of major decisions that are going to affect millions of families all across this country in very significant ways. and their voices, the voices of the american people, have to be part of this debate. and so i asked some friends of mine here to join me, some folks from here in the area. our ultimate goal is an agreement that gets our long-term deficit under control in a way that is fair and balanced. that kind of agreement would be good for our businesses, it would be good for our economy, it would be good for our children's future. and i believe that both parties can agree on a framework that does that in the coming weeks. in fact, my hope is to get this done before christmas. but -- the place where we already have in theory at least complete agreement, right now, is on middle-class taxes. and as i've said before, we have two choices. if congre
MSNBC
Nov 21, 2012 9:00am PST
's translate that. according to the congressional budget office, falling off the cliff would cut the deficit but stop economic recovery in its tracks. now presidents in both parties usually try to put money in people's pocketses to stimulate the economy. president bush sent taxpayers a refund check while obama has cut payroll taxes. p falling off the cliff is a reversal of that approach. that's why the cbo estimates economic growth would drop under 1% to just .5%. and unemployment could jump over a point to 9.1%. heather, we know the costs, we understand this game because the republicans have been playing it for a while. do you think anything has shifted post-election in way that will actually get a deal done? >> i think what's really come to roost for conservatives has been the fact they were pushing a vision for our economy that included basically just this, except for the tax increases, right. they said starting in 2010, the deficit is the most important thing, it's the most important thing, and now, they're basically faced with immediate deficit reduction and realize, oh, this is actuall
MSNBC
Nov 28, 2012 6:00am PST
that reduces the deficit by $4 trillion. that is substance. so he has not waited for people to start smelling the jet fumes at national airport. he has actively put forward a plan. >> the white house and republicans are ramping up their pr, something significant is happening behind the scenes. both sides appear to be preparing their own basis to eat their vegetables, if you will. in other words, get ready to make some sacrifices on sacred cows that are required for a grand bargain. for republicans that means swallowing changes to the bush-era tax rates and yesterday the first major house republican broke with the party line in a private meeting with the house republican whip team which is responsible for counting the conference's votes. oklahoma congressman tom cole said it's time to immediately extend the bush-era tax cuts which, of course, is what obama is calling for, for households earning less than $250,000 a year. then he later told "the new york times," quote, the first thing i'd do is make sure we don't raise taxes on 98% of the american people. we'll get some credit for that, and it'
FOX News
Nov 27, 2012 10:00am PST
dollar deficits every year and throw a tantrum if someone suggests that maybe the taxpayers shouldn't keep subsidizing ever last program washington ever dreamed up. they are reckless and ideological approach threatens our very future. and anyone who is serious about solving the problems we face should ignore all of that starting with the president. megyn: meantime some of the president's supporters unleashed and ad blitz targeting key lawmakers reportedly spending close to $300,000 on an ad buy that talks about increasing taxes but leaving spending alone. here is part of that. >> how do we move our country forward and reduce the deficit, by creating jobs and growing our economy not by cutting programs that families rely on most. megyn: join me now is stu varney, who is host of varney & company. and chris stirewalt. you have all the unions unleashing and ad blitz to target the home states of key lawmakers trying to build pressure on them to not agree to any entitlement spending cuts and they are going directly to the american people to sell that message. what do you make of it? >> i
FOX News
Nov 28, 2012 6:00am PST
to pay a little bit more to reduce the deficit. bill: what happens if they don't see a deal? 90% of americans will see a tax hike in 2013. and families that make between $40,000 and $65,000 will have to pay an extra $2,000 to washington, d.c. in taxes. martha: concerns over america's fiscal cliff have sent the markets lower in premarket trading. there is a look at where the dow is poised to open this morning. with the dow, the s & p and the nasdaq all trading lower. speaking of that, a new round of violent protests break out in egypt as police fired teargas into the crowds. here are some of those scenes. >> unbelievable. more than 100,000 people flooded into downtown cairo. this time they are protesting the current president martha maccallum and his power grab. they are disillusioned with what he has brought to their country. then you have this happening. police firing teargas. gypt's highest courts refusing to work in protest of morsi's actions. steve harrigan is streaming live from cairo. the protests looked like the unrest we saw in that same square back in 2009 and the arab
PBS
Nov 20, 2012 5:00pm PST
figures shortly before the financial markets opened. last month's deficit came to about $6.7 billion. exports fell by 6.5% from a year earlier. that's in yen terms. japan's exports have fallen for five months in a row. cars and steal led the drop last month. imports also fell by 1.6% from a year earlier. now, by dtination europe tumbled by 20% as the region's debt crisis continues to dampen demand. exports to china fell by over 11.5% and anti-japan sentiment dented demand for japanese goods. now let's get a check on the markets. on the tokyo foreign exchange, the dollar is gaining ground against the yen hitting the highest level in just about seven months. dollar yen is currently changing hands at 81.84 to 88 taking a look at the euro/yen, that is also at a six-month high. euro/yen 104.87 to 88. sources say many currency traders expect the bank of japan to deliver mormon tear easing because the central bank gave a cautious outlook for the japanese economy. let's get a check on stocks. japanese share prices are trading higher on the weaker yen this morning. the nikkei average currentl
CNN
Nov 28, 2012 1:00am PST
over the next ten years. that's about 40% of the $4 trillion deficit goal that we have. that's the same thing that simpson-bowles had, 40% revenue. so the only way you can reach that, incidentally, is to allow the rates to go up. just this idea of we're going to take a look at the tax code, change some credits and deductions, you can't come up with enough money. >> so any deal will have to include at least some hike in the tax rate. >> i don't think there's any other way to approach it. that's why the president has taken this position. if we're going to make sure, for example, that we spare families making $250,000 a year or less from any income tax increase, then this idea that we're going to go into the tax code and find $1.6 trillion over ten years becomes almost impossible. we need to protect those middle income families. >> you said today that congress should deal with the fiscal cliff crisis now, but tackle entitlements, the entitlement questions, later. yesterday, senator lamar alexander said the only thing the president has to do to get an agreement from republicans now is in hi
FOX Business
Nov 28, 2012 9:20am EST
it will reduce the deficit. not because it's good for the economy. he has a totally noneconomic reason for it and he's serious, we'll tell you what it is next. >> new at 10, warren buffett who has been begging the government to raise taxes on rich people like himself, well, instead of writing a check, he says, we should tax the rich because it will, quote, raise thh morale in the middle glass. he's serious. and all raising taxes on the wealthy may do, the big story of the day, president obama's campaign, holding more meetings on the fiscal cliff instead of real talks with politicians who have to decide this thing. and going on the road and selling the campaign harry reid says no cuts, democrats have cut spending and entitlements already. >> remember, we've already done more and billion dollars worth of cuts and we've already done that and we need to get credit for at that and these negotiations that take place. >> and the president's position, no more cuts, we're talking about it all with this company. sandra smith is here, and charles payne and as always on the floor of the new york
MSNBC
Nov 27, 2012 8:00am PST
puts forward his plan. how is he going to close the other part of that deficit? you know, his proposal right now, the most he can say would raise would be about $68 billion when our deficit last year was $90 billion. what is the president's plan for closing the additional additional $1 trillion worth of deficit? i think that's incumbent on the president to put forward his plan. >> from your standpoint alone, there's no way you see fit in the coming 35 days that you would break that pledge with glove norquist. >> well, thomas, let's use a couple numbers here. even with this measly economic growth we've seen the last three years, revenue at the federal government has increased $344 billion per year. if we just return to a normal economy that returns about 18.5%, that would increase revenue an additional over $400 billion per year, that's $750 billion of revenue per year through economic growth. and the president, his proposal would raise 1/10 of that but would put at risk the economic growth and that $750 billion. so -- >> sir, with all due respect, though -- >> counterproductive. >> tha
CSPAN
Nov 27, 2012 8:00pm EST
rate will necessarily go up. we talk about debt and deficit in this chamber, if we remember less than 12 years ago, 12 years ago we hit a budgetary surplus of $258 billion. meaning that we were taking in $258 billion more in each year than we were spending. how was that possible? it was made possible by having created 22 million private sector jobs in the previous eight years. . what was the policy then? the policy was to invest in the american economy, in the american people, in education, in scientific research, and infrastructure. so i think the lessons from our most recent past are very instructive today as to what we should be doing in washington to promote growth. the gentleman from california spoke of a plan i was working on, that's a $1.2 trillion investment in rebuilding the roads and bridges of america. that plan, advanced by the new america foundation, would create 27 million private sector jobs in five years. the first year alone, over five million jobs which would reduce the current employment rate from where it is today to 6.4% and in the second year, 5.2%. now public in
CNN
Nov 27, 2012 2:00am PST
" and he joins me now. thanks for being with us now. we appreciate it. you compare the deficit to an insurance policy. you say it doesn't make you any richer in the short-term, but in the long-term, it is helpful. i want to actually put your statements up. you say let's agree to keep deficits very high for at least another year. and then let's buy an insurance policy against that debt crisis when we can really afford it. so lots of republicans and democrats out there would disagree greatly with you. say that america's ability to pay its debt is really important. how would you respond to them? >> right. i do think that there's a thing that's taken place in washington deficit reduction will stimulate us to enormous growth in 2013. the fact is what deficit reduction is, is tax increases and spending cuts, both of which take economic activity out of the economy. so this really is extremely similar to insurance. if i buy, say, flood insurance. what i'm doing is i'm paying a short premium in the short-term, to protect my house in the long-term. that's exactly what deficit reduction i
FOX News
Nov 28, 2012 8:00am PST
approach to reducing the nation's deficit. let's bring in our panel. mary katharine ham editor-at-large of hot air.com and fox news contributor. peter mirijanian former advisor to the clinton-gore and gore-lieberman campaigns. when the president arrives at the white house to speak, he will have people behind him, ordinary americans who reached out to the white house and want their $2,000 middle class tax cut preserved. republicans are saying this is essentially a campaign stunt, a campaign appearance kind of event of the he won the election. he should get on the business of governing. what do you say? >> well, one quick observation, jon. i think what you're seeing, what i think is interesting the first social media presidency. this administration using technology and using social media to advance their agenda. but look, all presidents do this. george w. bush after his re-election famously said he has now the political capital he intend to use. so going to the public and going sort of over the head of congress is something democratic and republican presidents always do what they
CNN
Nov 28, 2012 4:00pm PST
, we have a trillion dollar annual deficit and this would not close that gap at all. so the president needs to come up with a plan and for better or worse going to require leadership. no member of the senate or the house is going to be able to do this, this is something the president has to do by himself and he can't do it on the campaign trail. >> let me ask you this because you wrote an op-ed today and you wrote about divided government about the deal. you said divided government means that neither democrats nor republicans will be able to pass legislation along strictly partisan lines. we cannot tax our way back to budget surpluses and economic prosperity without major spending cuts and entitle 347b9 reforms we will continue running a huge deficit regardless of what anyone does on either side. for every dollar of revenue you give him, he'll give you $2.50 of spending cuts. if he gave you that on spending cuts, it would be 8$850 billon year would you do that? >> the president has said a lot of things, but what counts is what he's willing to put on the table and so far, he hasn't put
FOX News
Nov 28, 2012 12:00pm PST
we should have a balanced approach to deficit reduction that doesn't hurt the economy or hurt middle class families. glad to see if you have been reading the pains more and more republicans in congress are agreeing with this idea we should have a balanced approach. >>shepard: he referenced some in the g.o.p. who signal they could be willing to play bull. the republican leadership still is insisting they will not consider tax hikes. >> republicans are willing to put revenue on the table the it is time for the president and democrats to get serious on the spending problem our country has. >>shepard: president obama continues the p.r. blitz. later today he is scheduled to meet with big business leaders to discuss the proposed fix to the fiscal cliff. ed henry is live with us at the white house. what seem it is to be lost in this is the tax cuts going to expire. that's it. if they want to extend them on some, they can. but he will not allow it on people who make more. what part of this is confusing? >>reporter: a lot of other pieces that are confusing because no one wants to come to the
CNN
Nov 27, 2012 4:00am PST
senator pat toomey from pennsylvania. he was a member of the deficit reduction super committee last year that failed to agree on a plan. but he's been talking about this issue for a long, long time. good morning, senator. >> good morning. >> we just learned that president obama will be traveling to your backyard on friday to talk about the fiscal cliff and spending, and traveling to pennsylvania right now. is this a welcome visit as far as you're earned? >> as far as i'm concerned the president of the united states is always welcome in my state of pennsylvania. we welcome the president and look forward to his message, and i have some questions i'd like to-ish i hope he addresses. >> what questions? >> first of all the president seems absolutely determined to inflict a tax increase on the american people. two years ago he signed a bill that extended the current tax rates for two more years because he said the last thing you want to do is raise taxes in a weak economy. today the economy is weaker than it was two years ago. why in the world does he want to inflict that damage now? >> senato
ABC
Nov 25, 2012 8:00am PST
. >> how do we move our country forward and reduce the deficit? by creating jobs and growing our economy, not by cutting programs that families rely on most. for working families it's all about putting americans back to work. not cutting the things we rely on most. >> there are signals they can't accept the kind of entitlement reforms in medicare and social security that senator graham is saying are prerequisite to a deal. >> let me tell you, first, george, and you know this, social security does not add one penny to our debt. not a penny. it's a separate funded operation. and we can do things and i believe we should now, smaller things, played out over the long term that gives its solvency. medicare is another story. only 12 years of solvency lie ahead if we do nothing. those who say don't touch it, don't change it are ignoring the obvious. we want medicare to be there for today's seniors and tomorrow, as well. we don't want to go to the poll and voucherizing it and we can make meaningful reforms without compromising the integrity of the program, making sure that the beneficiaries are n
MSNBC
Nov 21, 2012 6:00am PST
the type of serious deficit reform needed to bring down the $16 trillion debt? >> well, you know, i think anytime you're talking about a deficit, there's two ways to bring it down, and i know you know this well. you're either going to raise revenue or have cuts, and i would continue to argue for a balanced approach which means i do think you can find savings in both programs. but what i'm concerned about is what the real agenda is and the real agenda, in my opinion, is to end medicare. i mean, that was certainly a big item in the presidential debate is changing medicare into a voucher program. so what i don't believe in is changing the fundamental structure where we break the guarantee to seniors that we've had in our country for decades. that i disagree with. finding savings, there are certainly ways to do that in both programs, but neither one is going to balance or is going to address the deficit without clearly raising revenue. >> an interesting thing has developed among some of your fellow members in the house, democratic caucus, peter welch of vermont, if a deal is bad, that if it's
MSNBC
Nov 28, 2012 10:00am PST
and be on the group with a group of bipartisan business leaders and deficit hawks getting something done, meeting with republicans and democrats. do you have any more optimism let me point out you and your pal erskine bowles, he was quoted as saying he's more pessimistic something will be accomplished. >> my poor dear partner, bloodied but unvowed, six months ago erskine was saying i think we can get there. now, he's pessimistic. would be a word. we were just with a group go big or go home, democrats and republicans alike, they've got signatures of over 200 -- 102 house members, half of the senate working for us, equally divided on both sides, you have to have something bipartisan. you can write it on a single sheet of paper if it had firewalls and triggers, and if it were just signed by an equal number of democrats and republicans, the markets would lay off of us. if they continue to see this dead-head struggling, the same old stuff, they're going to punish us. when they do the guy that will get hurt is the little guy, middle class, inflation, interest rates, that's who gets hammered. what an ir
CNN
Nov 28, 2012 11:00am PST
as republicans have been trying to do since 2005 when we passed the deficit reduction act. >> let me jump to that, because part of the intriguing thing here is the fact that congressman cole, he is doing something that the president said, that post election news conference and that is, you know, extend the tax cut for everyone, but the wealthy, and then, you know, after you get that done, and i don't know if you would be going along with that, but nevertheless, you know, go ahead, talk about this long-term deal that would involve possible cuts as i think you're getting at, you know, cuts to programs like medicare. is that something we could see taking shape here? >> you're talking about getting rid of redundancies. great example, 342 economic development programs that are in the federal government system. let's start cleaning up these redundancies. let's do some of these across the board cuts in discretionary spending. let's make certain that medicare and social security, which are trust funds, not entitlements, they're trust funds, that they meet their obligation to our seniors and near seniors.
CNBC
Nov 28, 2012 4:00am EST
deficits close to 4% to 5% over the next decade and that's cbo forecasts. if that occurs, you're talk about the debt getting more and more out of control. because the u.s. is the global reserve council, it's reliant on global reserve investment. >> just want to make sure that people have enough treasuries to trade. that's all it's about, charles. isn't that very generous? >> it is very generous. but left unaddressed, the fiscal problem is beginning to be a problem. but equally they don't want the full hit at this stage. so it is a matter of coming to some compromise, so you are going to have to see some kind of adjustment on the taxation side. that is what everyone is hopeful for. but it's still a political game. >> and we've been burned before. let's recap in the meantime a couple of developments in europe overnight. the european commission is expected to approve the restructuring plans of spags's na -- spain's national lenders today. a token price of -- yes -- one euro. the valencia-based lank was one of four to be nationalized in the past 12 months. and hundreds of greek workers marched
CNN
Nov 28, 2012 9:00am PST
on a comprehensive plan to bring down our deficits, to streamline our tax system, to do it in a balanced way, including asking the wealthiest americans to pay a little more so we can invest in training, education, science, and research. now, i know some of this may sound familiar to you because we talked a lot about this during the campaign. this shouldn't be a surprise to anybody. this was a major debate in the presidential campaign and in congressional campaigns all across the country and a clear majority of americans, not just democrats but also a lot of republicans and a lot of independents agreed we should have a balanced approach to deficit reduction that doesn't hurt the economy and doesn't hurt middle class families. and i'm glad to see, if you've been reading the papers lately, that more and more republicans in congress seem to be agreeing with this idea that we should have a balanced approach. so if both parties agree we should not raise taxes on middle class families, let's begin our work with where we agree. the senate's already passed a bill that keeps income taxes from going up
FOX News
Nov 28, 2012 10:00am PST
debtor deficit spending, or where spending cuts of any type might come or how we are going to address the larger issue: we all know that tax hikes on the rich ain't going to get it down. progressive groups reportedly held a private meeting with senior obama administration white house officials. according to the "washington post" the groups were told not to worry about any entitlement reforms or big budget cuts. the so-called safety net programs according to them are not going to be touched and the progressive groups walked away feeling very happy. the report say the white house feels it does not need to compromise, period and is willing to let the big tax hike happen on everybody. the big tax hike is what everybody will face not just the rich or the middle class. they think they'll be in a better position to negotiate with the g.o.p. after that happens. chris stirewalt joins me, host of power play on foxnews.com. >> i was a little frightened, i thought something i, really bad was happening instead of the standard badness. megyn: that is terrifying. [laughter] back down to business, t
FOX News
Nov 26, 2012 5:00pm PST
california owes an astounding $167 billion. and it's running an annual deficit of about 9 billion. money they that can never never be paid back. what is california getting for all of that? high school graduation rate 37 out of 50 states. per capita income, $44,500. but, there is a 10.1% unemployment rate. crime number one. there are more prisoners in california than any other state. take a look at texas. high school ranks 44th. slightly above california. per capita income about 40,000 bucks per year. but there is relatively low unemployment 6.6%. convicts in state prisoners ranked number two behind california. so you can see there is not a big difference in the economic and social stats but there is a big difference in mind set. california has many more social welfare programs. golden state also has many more business regulations. texas, you could pretty much set up any bigness you want. you can also ride a motorcycle without a helmet. talk on the cell phone without a car and on and on. texans basically saying hey, government, get out of our lives. californians on the other hand generall
MSNBC
Nov 27, 2012 11:00am PST
to reduce the long-term deficit, that requires a combination of cuts. it also means asking high income individuals to pay a little bit more. that was a key issue in the campaign. all the exit polls show the american people are on the president's side. the only people who appear to be totally deaf to that are some of the congressional leaders in the republican house and senate. so i think it's important that the president get out and talk to the american people. this is part of the national conversation. this is a very important moment, and so it's important even as the president talks to congressional leaders and he had them down to the white house and continues to be in contact with them, he should engage the american public in this very important national conversation. >> let me ask you, you have a couple of senate republicans who have come out again grover norquist and any kind of notion of a pledge or being held to a lobbyist as opposed to the american people. on the left you have some progressives who are concerned that too many concessions will be made with social security, medic
MSNBC
Nov 28, 2012 8:00am PST
and your party come to this debate with big deficit because you and president bush and dick cheney lied this country into war and you had a lot of lies on foreign policy about wmds. president bush even said once in may 2003 that we found the wmds in iraq. dick cheney and condoleezza rice talked about links to al qaeda in iraq. you've never made up for those huge, serious, significant lies in the arena of foreign policy. and now you're picking apart, you know, basically the very early and ultimately not misleading with regard to foreign policy decisions, statements that this diplomat made. >> one thing we're learning right now the meeting with ambassador rice and senator corker is happening as we speak so a little earlier than that noontime appointment. but the one thing we heard also from senator barrasso in the last hour was john considerry's name floated out and it would be easier for him to sail through. you had the opportunity to work with john kerry before. >> sure. >> when we hear about this, is that really what the game, as joy-ann said, this machiavellian game, basically let's g
PBS
Nov 21, 2012 7:00pm PST
. trade balance in october marked the largest deficit on record for that month. >>> now let's take a look at how stocks are performing. tokyo share prices are recovering this thursday morning to the 9,300 level for the first time since early may. the key nikkei index at 9318. that's a gain of over 1% so far in the day. analysts say that market players are buying export-related shares as the yen weakens. investors have high hopes for an earnings recovery of exporters. an overnight rise on wall street, that also is helping push shares up here in tokyo. let's take a look at other markets that are open this hour. in south korea, the kospi is trading higher by almost .8%, currently 1898. let's take a look at australia. the benchmark index there is trading well over 1%. 1.3% at 4426. >>> ministers from japan and south korea are discussing a broad range of economic issues. japan apparently hopes that the two countries will reassert the importance of their economic ties and that's despite a souring in their political relations due to a territorial dispute. the working-level talks in seoul on thur
MSNBC
Nov 28, 2012 2:00am PST
its budget deficit and brought unemployment to the lowest in the nation. >>> coming up, a basketball round up. and remembering the man who transformed baseball. plus new york city's iconic empire state building shows off some new high tech lighting. ♪ if it wasn't for you ♪ don't know what i'd do ♪ i'd have nothing to prove ♪ i'd have nothing to lose ♪ i'd be all lost at sea ♪ with no reason to make it through ♪ [ male announcer ] introducing the celebration diamond collection. ♪ if it wasn't for you [ male announcer ] diamonds so expertly cut, we guarantee them for life. zales is the diamond store. let love shine. . >>> just a tragedy in new york last night as a commuter bus plow the into a long island home and killed a 6-year-old boy inside. the bus had swerved to avoid a pedestrian when it lost control. at least nine bus passengers were treated for injuries. >>> to georgia where a similar accident almost killed a toddler inside a family's jewelry store. this 18 month old ran into his father's office just seconds before the 84-year-old driver plowed the car right in
CNN
Nov 27, 2012 1:00pm PST
.s. economy back into a recession. both congress and the white house are trying to make a deficit reduction deal to avoid the financial chaos. and president obama's reverting to some campaign mode right now to try to make sure things are done his way. our white house correspondent dan lothian is joining us now with new information. what are you learning, dan? >> reporter: well, wolf, while senior members of the administration including secretary geithner, chief of staff jack lou also top advisor meeting with -- the president himself trying to sell his vision to the public, but some say it's not a winning strategy. it doesn't take a gps to find the way to the fiscal cliff. much more difficult, finding the off ramp. at the president's first meeting with congressional leaders more than a week ago, there was a sense of optimism. >> my hope is is that this is going to be the beginning of a fruitful process. >> reporter: there was a follow-up phone call with house speaker john boehner, but a much different approach this week. the president's calendar is packed with sales pitches to the public, wh
MSNBC
Nov 27, 2012 5:00pm PST
of the issues understood the solution to the deficit plan. >> what grows jobs in america are consumers spending money. and the average person needs that $2,000 in his pocket to drive the economy. saying that tax breaks for the rich drive consumers lower down to spend is like saying you could start your car by pouring gasoline on the hood. there's no proof, there's no factual data to support it. it's completely a sham to say that. >> and he's a business owner. we need more members of congress to sound like that. if the president is trying to achieve solidarity on raising the top tax rate, these are the voices that can come through for them with that message in a big way. an owner of an automobile supply company says she supports the plan even if it means her own personal rates will go up. . >> i would have higher tax rates, but r more important and more crucial, the middle class would be spending about $3,000 more. >> harry reid kept the focus on the president's winning campaign message of letting the tax cuts expire on incomes over $250,000 a year. >> the people who have done so well during thi
FOX News
Nov 26, 2012 6:00am PST
is an integral part of deficit reduction. yes, from my side of the table bring entitlement reform into the conversation. social security, set aside. doesn't add to the deficit but when it comes to medicare and medicaid, protect the integrity of the program but give it solvency for more and more years. martha: alabama republican jeff sessions is the ranking member on the senate budget committee. senator sessions good morning. good to have you here today. >> martha, thank you. martha: a lot of talk this morning after these sunday shows and watching both sides talk about this fiscal cliff about who seems to be moving and in what direction. what are you hearing, what are you hearing from lindsey graham who says, quote he is willing to break that pledge on taxes under certain circumstances? what are they really saying? >> i'm not sure what they're saying. there's a lot of this talk going on. i don't know who is speaking for the republican party. the house of representatives where you have a substantial republican majority but the truth is that this country does not need to go through t
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